OGE Energy (NYSE:OGE) Given New $42.00 Price Target at Barclays

OGE Energy (NYSE:OGE) had its price target reduced by investment analysts at Barclays from $43.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price points to a potential downside of 3.01% from the company’s previous close.

Separately, Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $47.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Performance

NYSE OGE traded up $0.19 during trading on Friday, hitting $43.31. The company’s stock had a trading volume of 79,361 shares, compared to its average volume of 771,975. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average price of $42.06 and a 200 day moving average price of $40.51. The firm has a market cap of $8.70 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 3.63 and a beta of 0.77. OGE Energy has a 52 week low of $32.06 and a 52 week high of $44.41.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Equities research analysts forecast that OGE Energy will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

Institutional Trading of OGE Energy

Large investors have recently bought and sold shares of the stock. New Wave Wealth Advisors LLC acquired a new position in OGE Energy in the fourth quarter worth $80,000. Gries Financial LLC boosted its stake in OGE Energy by 1.7% in the fourth quarter. Gries Financial LLC now owns 30,877 shares of the utilities provider’s stock worth $1,274,000 after purchasing an additional 514 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in OGE Energy by 41.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 14,743 shares of the utilities provider’s stock worth $608,000 after purchasing an additional 4,328 shares in the last quarter. KBC Group NV boosted its stake in OGE Energy by 55.2% in the fourth quarter. KBC Group NV now owns 7,795 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 2,774 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in OGE Energy by 6.7% in the fourth quarter. UMB Bank n.a. now owns 8,209 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 515 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.